It should not surprise us. Governors and mayors keep pushing further and further, and there is no pushback. They are now full blown dictators, and no one makes a move to stop them. Not President Trump, not Bagpipes Barr, not the courts.....no one.
Posted on 08/21/2020 5:20:39 AM PDT by karpov
ALBANY — Gov. Andrew Cuomo signed an executive order Thursday expanding a coronavirus-related emergency moratorium on evictions and foreclosures of commercial properties until Sept. 20.
The move gives business owners heavily impacted by state-ordered closures associated with COVID-19 more another month to meet their rental obligations.
“While we have made great progress in keeping New York’s infection rate low, this pandemic is not over and as we continue to fight the virus, we are continuing to protect New York businesses and residential tenants who face financial hardship due to COVID,” Cuomo said.
“I am extending the state’s moratorium on commercial evictions to ensure business owners across New York will not be forced to close as a result of the pandemic.”
It’s an extension from an original March 20 eviction moratorium impacting commercial and residential renters, although Cuomo recently signed another bill allowing tenants some protections if they can prove they’ve been negatively impacted by the coronavirus.
(Excerpt) Read more at nypost.com ...
He is The Prince, Donchaknow....
The o ly way Cuomo could believe he made great progress withe the infection rate is if he intended to kill as many people as he could.
And saving the lease on a looted and burned out store isn’t going to bring relief or more money in taxes.
Isn’t non-interference with contracts?
A very quick search reveals this about Article 1, Section 10 of the Constitution:
“the Constitution of the United States, article first, section tenth, declares that no State shall pass a law impairing the obligations of contract. This must be equivalent to saying no State shall pass a law revoking, invalidating, or altering a contract.”
And, if there’s equal protection under the law, how can you favor the tenants while not exempting the landlords from mortgage and maintenance obligations? And if you do that in turn, don’t you disadvantage the mortgage debtholders? A sticky wicket.
I meant to say, “Isn’t noninterference with contracts prominent in the Constitution?”
Protecting everyone but the poor landlords who are squeezed between the tenants and the bank.
It doesn't seem like the Governor should have the authority to impose his will on these contracts. Perhaps it is considered an Act of God (TIC). Maybe some research into new lawsuits is in order.
What a jackass. I have news for you, Andy: Most of those commercial tenants have no intention of ever opening their doors again.
Landlords need tenants as much as tenants need landlords and the demand for rental properties in New York is probably as close to zero as possible without becoming a negative number. Not much danger of eviction, unless the landlord is insane or the tenant is terrible.
Since Cuomo has demonstrated that he knows infinitely more about nipple rings than about basic economics, this is not a surprise.
Cuomo’s dictatorship of New York state is identical to Deblasio’s dictatorship of NYC. Two evil, manipulative, Godless souls who use their powers to destroy the many gains President Trump has achieved!
Force majure is a long-standing limitation to contracts I believe.
When you take out a business license, you are agreeing to governmental meddling in your business.
One large shopping center operator was said to have gotten only 51% of rents due for March.
It should not surprise us. Governors and mayors keep pushing further and further, and there is no pushback. They are now full blown dictators, and no one makes a move to stop them. Not President Trump, not Bagpipes Barr, not the courts.....no one.
Many businesses have been abandoned in my area of Florida.
There is no equal protection under the law. The "Civil Rights" laws and court cases took care of that.
There is no Constitution anymore. The courts rule that casinos, weed shops, and abortion mills have more rights than churches.
Do we have any stories on how this is impacting landlords? Is cuomo preparing to buy up defaulted property or something?
In places like New York that rely heavily on property tax revenues, the bigger problem in the next 6-12 months will be a flood of tax appeals that decimates this revenue stream. A commercial property is different than a residential property in that its value is based entirely on its lease revenue. A commercial building that loses 75% of its rental income in 2020 has lost 75% of its appraised value.
What does a private contract mean anymore?
Is the bank and their mortgage just a limp piece of paper?
He can do it because nobody wants to stop him. Not our legislature, or our state’s judiciary.
If Trump can’t/won’t, NYS is screwed.
Oh, boy.
Residential property taxpayers better prepare for the mother-of-all incoming...
Regardless of what the politicians try to dictate, the market has changed. Many businesses have learned that with the new technology, there is no need to congregate in large, expensive commercial locations. That means that many businesses will not be renewing leases for hugely expensive commercial office buildings.The resaurants and botiques that catered to people working there will not have customers. The internet driven retail warehouse direct sevices such as Amazon and others had already diminished the need retail store space.
Face it. There has been a real diminishment in the core economic rational for urban America. Combine that with the inefficencies and bizarre lawlessness inherent with marxist Democrat political control, Cuomo can issue all the dictates he wants but New York City is in very bad shape. Also in view of his closing of the Indian Point nuclear power plant, which generates 25% of the city’s electricity and his ban on gas pipelines, New York City, even with the dimunition of economic activity and the loss of up to 15% of its population will be a living hell next summer.
I thought force majeure had to be written into contracts as a specific clause, such as insurance. I haven’t seen it in any lease I’ve ever signed, at least not running to the benefit of the renter.
Good question, though.
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